Editor's note: Real estate expert Justin Alexander talks about the Venice, California real estate market performance in 2020 in this exclusive Q&A with Haute Residence.
Photo Credit: Noel Kleinman
How did the real estate market look in the beginning of 2020?
For the last five years, Venice had price increases, so we did start to see a little cooling off and listings lasting a bit longer than before.
What, if any, changes did the pandemic have on prices? On inventory?
When the pandemic hit, the market froze for 2-3 weeks. Many people were canceling deals. By April, the market became a feeding frenzy for super luxury beach houses with outdoor space. There were many out of towners from New York and San Francisco coming in. The high-end, $2.5-5.5 million range had very little activity. Under $2.5 million really saw a jump. Everything from your standard smaller rentals to big architectural with pools rentals saw huge demand. That’s what Venice has been during the last six months and still to this day.
Professionally, what have you learned in 2020 about yourself?
I learned that I have a lot of agility to adapt for my clients. When you’re dealing with a global pandemic, it brings extra chaos for the clients, and many agents went into that mode as well. At an early point, I realized that I can still control the narrative and give people the support and energy to proceed. I’m able to keep it cool, give direction, and support. I found a new comfort level in the way that we pursue business.
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